IST:ALGYO Cash Flow Statement

Financials in millions TRY. Fiscal year is January - December.

Millions TRY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	464.41	445.95	1,862	1,243	1,266	330.19
Depreciation & Amortization	1.2	1.45	1.65	1.25	0.05	0.02
Gain (Loss) on Sale of Assets	-0.04	-	-0.69	-38.09	-	-
Asset Writedown	-772.41	-772.41	-1,580	-1,375	-715.29	-149.7
Change in Accounts Receivable	-0.41	120.43	-57.79	122.89	-115.65	10.3
Change in Accounts Payable	244.11	-15.94	14.51	6.3	1.59	2.79
Change in Other Net Operating Assets	97.05	184.07	-220.81	-112.35	32.99	-2.13
Other Operating Activities	1,853	922.64	250.27	423.38	84.97	-274.82
Operating Cash Flow	2,215	886.19	269.28	271.68	554.97	-83.37
Operating Cash Flow Growth	178.95%	229.10%	-0.88%	-51.05%	-	-
Acquisition of Real Estate Assets	-2,892	-1,460	-904.99	-152.83	-451.98	-3.19
Sale of Real Estate Assets	0.15	-	-	73.76	-	-
Net Sale / Acq. of Real Estate Assets	-2,892	-1,460	-904.99	-79.07	-451.98	-3.19
Cash Acquisition	-	-	-	-263.17	-49.47	-
Other Investing Activities	7.34	56.98	91.25	60.21	32.97	15.2
Investing Cash Flow	-2,884	-1,403	-813.75	-284.16	-468.58	12
Long-Term Debt Issued	-	1,054	720.74	205.64	-	-
Long-Term Debt Repaid	-	-326.18	-33.83	-6.29	-1.92	-1.76
Net Debt Issued (Repaid)	29.54	727.46	686.91	199.35	-1.92	-1.76
Repurchase of Common Stock	-	-	-14.76	-25.86	-	-
Common Dividends Paid	-	-8.1	-221.05	-208.67	-49.32	-38.77
Foreign Exchange Rate Adjustments	-108.86	-28.53	19.39	144.04	77.2	-
Miscellaneous Cash Flow Adjustments	-82.48	-76.96	-210.1	-73.43	-	-
Net Cash Flow	-828.85	97.28	-284.09	22.94	112.36	-111.89
Cash Income Tax Paid	4.38	7.01	4.18	1.83	0.95	-
Levered Free Cash Flow	138.23	200.41	-207.17	-102.39	-31.13	21.73
Unlevered Free Cash Flow	398.56	342.28	-201.57	-101.15	-30.5	22.58
Change in Working Capital	669.35	288.56	-263.93	16.74	-81.06	10.96

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.